SEBI reduces the cooling-off period under Offer for Sale (OFS) for privately listed InvITs from 12 to 8 weeks to improve liquidity and capital-raising efficiency.
SEBI Reduces OFS Cooling-Off Period for InvITs
Effective 2 November 2026, SEBI has reduced the mandatory cooling-off period for Offer for Sale (OFS) in the case of privately listed Infrastructure Investment Trusts (InvITs) from 12 weeks to 8 weeks. The change applies to secondary sales by sponsors and other promoters.
The reduction is intended to enhance market liquidity and reduce time-to-market for capital-raising transactions. It particularly benefits illiquid InvITs where investor exit options are limited. The amendment reflects SEBI’s continued focus on refining market design for alternative asset classes.
Legal advisors must update transaction timelines for InvIT offerings and ensure that disclosures and investor communications are synchronized with the compressed schedule. The change may influence structuring of future InvIT deals, particularly in the infrastructure and energy sectors.
Citations
- SEBI Circular on OFS Framework, 2 November 2026
